Voting for new homes?
The canvassing is in full swing for the snap election – but what opportunities could be opened up for the construction industry? Here we take a look at the policies from each party that could benefit the industry.
Of course, the main issue in this general election is Brexit – and the implications of non-EU citizens being turned away has already made major waves through this industry, which relies on overseas workers.
If the Conservative government returns to power – which looks likely, according to the polls – there’s a number of massive infrastructure projects that are likely to get under way. One of the most well known is of course HS2, the high-speed railway. The Government also wants to build several free schools and more new homes.
Labour too, is committing to build more homes, with the emphasis on affordable and social housing – one million in its first five years of government – backed by a £500bn investment plan. These homes would include 500,000 new council homes. Labour would also get rid of the local borrowing cap, in order to allow councils to borrow against their existing housing and create another 12,000 council houses each year.
Other housing-related policies from Labour include scrapping ‘right to buy’ and the reintroduction of regional house building targets.
The Liberal democrats also plan to build more homes – but on the smaller scale of 300,000. They also have a plan to found a Housing Investment Bank, which would generate funds for new homes.
Over the border, the SNP wants to plunge £20bn into infrastructure projects and invest £3bn in an affordable housing programme. They also have plans for rail and road improvements including the extension of the Borders rail route.
And if the Tories do return to power, you can expect the building of Heathrow’s third runway as well as next-generation nuclear plants. They also have plans for a £2bn-funded Accelerated Construction Scheme that will make public land with planning permission available to builders, plus an apprenticeship scheme that will provide 3m places by 2020.
Catalyst Land Solutions already operates with many local authorities (whatever party they are led by) and is fully committed to delivering new homes.
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